Regions
TODAY’S DEALS: Oak Grove Provides $55.6M for Three Twin Cities Properties
Oak Grove Capital provides three loans to Bigos Management; Toronto-based Starlight buys 216-units in North Dallas; and NorthMarq Capital arranges $19.5 million mortgage for refinance, use conversion of seniors housing.
CIM Group Acquires L.A. Community
CIM Group announced that it has acquired a recently renovated 168 high-rise community in the Koreatown neighborhood of Los Angeles.
Economy Watch: Home Prices Rise Everywhere
U.S. residential prices continued their upward climb in May, according to the latest S&P/Case-Shiller Home Price Indices.
Construction Begins on Houston’s Alta Westheimer
Ground has been broken on Alta Westheimer, a 133-unit luxury apartment community in west Houston.
TODAY’S DEALS: NGKF Capital Markets Completes Phoenix Sale
NGKF completes a 275-unit sale; UC Funding structures and funds a $9.9 million acquisition bridge loan for two Norfolk, Va., redevelopments; and Alliant Capital provides a $28.4 million FHA 223(f) loan.
San Diego Solar-Powered Apartments Lease Up Quickly
Solterra EcoLuxury Apartments, which has been open for 10 weeks, reports full occupancy. The 114-unit property is distinctive for being the first apartment community in San Diego County that’s fully photovoltaic.
Q2 Commercial/Multifamily Originations Up 7 Percent from Last Year; 36 Percent from Q1
Commercial and multifamily mortgage origination volumes during the second quarter of 2013 were 7 percent higher than during the second quarter of 2012 and 36 percent higher than during the first quarter of 2013, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
DeMatteis and Mattone Find Success with Luxury Apartments in NYC
Co-developers the DeMatteis Organizations and the Mattone Group have sold over 80 percent of its Upper East Side luxury high-rise community Azure, with fewer than 17 residences remaining—all Tower Residences, which are the high-floor homes with sweeping NYC views.
New Boston Fund Names Walker VP of Construction
New Boston Fund Inc., a private equity real estate investment, development and management firm, announced today the promotion of David Walker to vice president of construction in the Northeast.
Gvest Adds Frericks as CFO
Gvest Partners has hired Kevin Frericks, CPA, as chief financial officer. Frericks will be based in the firm’s Atlanta office.